Bias Interrupters—Intentionally Disrupting the Status Quo to Create Inclusive and Well Workplaces

Abstract

ABSTRACT Currently, only one in five Australians seek financial advice. There is significant future growth and potential for increased financial wellness for community, families and individuals through a financial advice relationship. Leveraging diverse perspectives to reflect and understand clients’ diverse needs and to guard against ‘groupthink’ is critical to achieving this growth potential. Finance organisations are lagging behind in gender diversity in Australia and globally (Workplace Gender Equality Agency, 2017). The Association of Financial Advisers states that of all financial planners in Australia, only one in five financial planners are women, not reflecting the rapidly changing customer base where women control $12 trillion of the $18.4 trillion in consumer discretionary spending (International Herald Tribune, 2012). With the recent move to professionalism for the industry, now is a point of agitation to redefine inclusive pathways in and through financial planning. Intentionally disrupting the current subtle and not-so-subtle business processes that perpetuate gender inequity requires a disruptive approach to the current practices of many Australian organisations. An Inclusion and Diversity audit assesses the current state of bias in structural, cultural, interpersonal and personal dimensions. Fundamental to bold pragmatic action to accelerate gender parity is an understanding of where bias occurs, measuring its progress, and a leadership focus to disrupt it.